[Click to View TP Introduction]
[Click to View TP Questionnaire]
The Hong Kong Government has made Transfer Pricing Documentation ("TP Doc") COMPULSORY to "large" Hong Kong corporations. The relevant legislation will soon be enacted into law after its Third Reading in the Legislative Council on 5 JULY 2018 and the FIRST TP Doc (both Master and Local files) has to be made in 2019. The attached questionnaire can help you determine if your corporation is "large", while the attached PowerPoint gives you highlights in relation to the legislation.
Cheng & Cheng provides comprehensive solutions for preparation of TP Doc and has access to BvD databases for TP analysis. BvD databases are currently used by international accounting firms and global tax authorities including Hong Kong Inland Revenue Department and PRC tax authorities.
The TP Doc requirement is going to a big hit to corporations with significant cross-border related party transactions. It is our recommendation to consult with us your current transfer pricing policies this year before your group is exposed to the challenge from the IRD upon the submission of the TP Doc in 2019.
We would be grateful if you could print out the attached questionnaire and then send the completed form back to us by email (Email address: henry.kwong@chengcpa.com.hk). We will then contact you to follow up shortly. Alternatively, you are always welcome to contact our trusted partner, or our Senior Tax Manager, Mr. Henry Kwong, at +852 3962 0114 anytime.
Cheng & Cheng Limited is a professional Hong Kong based accounting firm. With many years experience in the financial sector, Cheng & Cheng Limited and its group companies aim to provide the best personal service we can to our valued customers.
